Feds Accuse 23 In $20 Million Fraud

SANTA ANA, CALIF. (CN) - Twenty-three defendants face federal charges of defrauding lenders of more than $20 million to finance bogus equipment leases. Working through Capitalwerks in Santa Ana, Brickbanc Capital in Costa Mesa and other fronts, the defendants sold loans to small businesses with credit problems, submitted false documents to banks, claiming they were selling the borrowers computer equipment, and took giant commissions, prosecutors say.

The U.S. Attorney's Office said the FBI investigation is continuing.

Here are the defendants who were charged Wednesday:

Adam Zuckerman, 37, of Laguna Beach, who worked at Brickbanc;

Kirk McMahan, 31, of Newport Beach, who worked at Brickbanc;

Paul Arnold, 56, of Laguna Hills, who worked at Brickbanc;

Geoff Silver, 35, of Calabasas, who worked at Silver Industries;

Brian Sime, 29, of Irvine, who worked at Brickbanc;

John J. Callaghan, 38, of Warminster, Pennsylvania, who worked at Citicapital;

James T. Raeder II, 42, of Mission Viejo, who worked at Capitalwerks/Preferred Lease;

Mark McQuitty, 46, of Trabuco Canyon, who worked at Capitalwerks/Preferred Lease;

Richard Norris, 60, of Los Angeles, who worked at Capitalwerks/Preferred Lease;

Leo Najera, 28, of Mission Viejo, who worked at ECCI;

John Budge, 38, of Sartell, Minnesota, who worked at Bach Business Credit;

Anthony E. Watson, 61, of San Clemente, who worked at Capitalwerks/Preferred Lease;

Leigh Dorand, 42, of Phoenix, who worked at Tech Capital;

Douglas Cox, 37, of Rancho Santa Margarita, who worked at Capitalwerks/Preferred Lease;

James Breedlove, 51, of Newport Beach, who worked at Santa Fe Equipment;

Mark Castleman, 47, of Chino Hills, who worked at Industrial Information Systems;

Les Spitzer, 60, of Grenada Hills, who worked at Pyramid Infinite;

George Simon, 38, of Redondo Beach, who worked at Advantage IT Solutions;

Jeff Greenough, 48, of Laguna Beach, who worked at Peniche;

Troy Worrell, 47, of Newport Beach, who worked at Peniche;

Lourey McComber, 53, of Prescott Valley, Arizona, who worked at Peniche;

Harold Gold, 75, of Falmouth, Massachusetts, who worked at Leasing Services; and

Nohad Mousa, 40, of Anaheim, who worked at Saut Wa Soora, Inc.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit